Thank you for standing by. This is the conference operator. Welcome to the Evolution Petroleum First Quarter Fiscal 2018 Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions] I would now like to turn the conference over to Randy Keys, CEO. Please go ahead.

Welcome to Evolution Petroleum’s earnings presentation for our fiscal first quarter ended September 30, 2017. We will discuss operating and financial results for the quarter. I am Randy Keys, CEO of Evolution Petroleum. Please note that any statements and information provided today are time-sensitive and may not be accurate at a later date. This presentation contains forward-looking statements of management’s beliefs and assumptions based on currently available information. These forward-looking statements are subject to risks and uncertainties that are described in our filings with the SEC. Actual results may differ materially from those expected. Evolution reported another strong quarter of financial results for the three months ended September 30, 2017. Our net income was $2.1 million on total revenues of $8.5 million, which gave us earnings of $0.06 per common share. If we look back to the same quarter a year ago, the industry was just recovering from the low point of its downturn. Oil prices had come up from levels below $30 per barrel and we are in the range of $45 per barrel. Our revenues in that quarter were $7.6 million and we reported earnings per share of $0.02, after adjustment for final dividend and redemption of our preferred stock. Toward the end of this quarter, we’ve seen prices for crude oil, natural gas liquids and the premium for Light Louisiana Sweet or LLS, all move in the same positive direction. Our outlook for meaningful increases in revenues and cash flows appears very favorable at this point. Last quarter, we announced an increase in our quarterly dividend to $0.075 per common share and we announced the same dividend for this quarter. We’ve now paid 16 consecutive quarterly dividends and have authorized the 17th, payable at the end of December. At our closing stock price yesterday, our dividend yield…

We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from John White with Roth Capital. Please go ahead.

Good morning. Can you hear me okay?

You bet. John, good morning to you. How are you?

Yes. I am good. Nice quarter. And your last couple of remarks on the NGL pricing, certainly, I noticed that you really beat me on realized NGL prices. So, looking forward to that going forward. Also on slide seven of your handout, I noticed the electricity -- Delhi lease operating costs, electricity and power had a big drop from 378,000 to 314,000. Is that due to the getting some power from as a result of the turbine?

We believe part of it is, and frankly we are hopeful that we will see a continuing decline in the next quarter because really the modifications to the NGL plant were not completed until half way through this current quarter. If you look back a little further on the trend line, it’s -- we’re still not dramatically below the typical cost for the field, for the recycle facility. But yes, the answer to your question is, we are hopeful, we will see those power costs continue to go down and we are -- in the daily reports that we get, we are delivering power over to the recycle facility. So, we are offsetting part of the electricity needs of that field right now and have been since this upgrade was completed.

Okay. Well, thanks a lot and congratulations on the financial results.

Thank you, John.

[Operator Instructions]. This concludes the question-and-answer session. I would like to turn the conference back over to Randy Keys for any closing remarks.

Well, thank you very much for participating in this earnings conference call. We did have a very solid financial quarter. And we are excited about the infill drilling program which we think will kickoff shortly after the first of the year. We think that can add some meaningful increases in oil production. So, thank you very much for you interest in Evolution, and have a nice day. Thanks.

This concludes today’s conference call. You may disconnect your lines. Thank you for participating and have a pleasant day.